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CNBC
Jan 2, 2013 7:00pm EST
brewing. >> reporter: a brutal political battle today over hurricane sandy aid for hard-hit new york and new jersey. i'll bring you all the tough rhetoric when we come back. >>> and yet another big story brewing for tomorrow. john boehner, he could be facing a real challenge for his job speaker of the house. ace acosta is all over this story. "the kudlow report" begins right now. >>> back to the rally on the streets today. that is the total sizzle story. check out these numbers. in case you missed it, dow added 308 points. nasdaq up 93. s&p 500 surging 36. cnbc's kelly evans joins us with all the details. good evening, kelly. >> larry, good evening, from down here at the stock exchange where you practically would expect streamers and champagne. the kind of day we had to put in in context, the likes of bill gross saying he sees stocks up 5% for the year, we did 60% of that in the first trading day. a lot of people are pointing to this that there could be many better things to come than just 5% in stocks. we saw the best start to the year, at least in percentage terms for the major indexes
CNBC
Jan 2, 2013 9:00am EST
. it's a fabulous business. i have liked hertz. don't forget, sandy wiped out a lot of cars. this sa remarkable deal, only because one more time another player gets taken out. this business is too consolidated. and the pricing is ogolopistic. >> it's a nice premium. if you're a hertz holder, you have to why hold the stock that's down 39% last year. these are just things to consider. >> the bigger question, too, is, and i'll play the role of david faber, although i'm not as toned and fit as he is, and i'm much taller, what is -- >> that's a bit of a dig there. >> no, it's not. he's more fit than i. what kind of m & a is it going to be this year? >> i don't think budget, that ceiling is going to put a lid on buys. one of the reasons is because exactly what you talked about with europe. they're going to come here. they're going to buy. it feels like '87, '88 when they came with boat loads of money. >> and china. >> china's the new japan. >> i like that. >> if we have a demographic profile, they'll be the new japan. >> not to fear, cramer is back and ready to go. "mad dash" is coming up
CNBC
Dec 26, 2012 5:00am EST
less this season including hurricane sandy and concerns about how tax hikes from the fiscal cliff could impact their wallets. joining us for more on the numbers is michael mcnamara of mastercard advisers. great to have you with us. many analysts, retailers had high hopes for the season. i think it's looking weaker than expected. of course we had hurricane sandy and we're dealing with the fiscal cliff, as well. what do you think the big driver was of these slower growth numbers? >> well, good morning. yes, you hit on two of the big ones. really the season tripped coming out of the starting gate with hurricane sandy. the impact in the northeast and mid-atlantic, both those regions of the country actually had negative holiday seasons for the holiday-related sectors that we track. other areas of the country that were not impacted by significant weather in the southeast, south central, mountain and west, were up 2% to 4% year over year. so really depended on where you were in the country, how but during the holiday season. >> okay. that's definitely interesting to look at, the regional
CNBC
Dec 26, 2012 9:00am EST
fiscal cliff? was it sandy? was it some sentiment that came out of the newtown tragedy? it's hard to say. >> but it may be a combination of all of those. we got a sense from the guests we brought on earlier this week, on monday, that it was not a great holiday selling season, as we ended the last day before christmas. and all those may be the reasons, carl. i'm positive i didn't think people really understood the fiscal cliff. i may have been wrong. perhaps it was something that weighed on people's minds. the weather always at issue. it could actually have been warmer weather as well that contributed. we've had some analysts say that because people don't feel they have to go out and buy a coat. >> because it will never get cold again. >> except today, when it's 28 degrees. we'll see how after christmas does. internet also, it doesn't appear as online sales are up as p as anticipated. and perhaps they made up for the loss of the brick and mortar. >> you were pointing out before the show, luxury was not immune to this. you would think it would be more in tune to the consequences a clif
CNBC
Jan 2, 2013 3:00pm EST
protected. . >>> welcome back, we have some breaking news on aid for sandy victims. eamon javers has details on that. eamon? >> hi, bill, well, a group of lawmakers from new york and new jersey just coming before cameras here within the past couple of minutes to announce that speaker boehner has relented on the sandy aid funding, at least in part agreeing to a deal. according to new york congressman pete king. that would provide $9 billion in aid as early as this friday, and then they would agree on an additional up to 51 billion later on during the course of the month of january. obviously this has been a very contentious fight. we saw a very angry new jersey governor chris christie in the 2:00 hour holding a news conference, denouncing republicans in the house of representatives, but these republicans in the house today saying that they now have a deal and they seem fairly pleased. peter king saying he would in fact vote for boehner for speaker, despite some very heated criticism of his own of speaker boehner earlier today. guys, it looks like this hurricane sandy relief fight is over, at
CNBC
Jan 2, 2013 11:00pm EST
find out about december auto sales numbers and i think it's going to be terrific. hurricane sandy wrecked hundreds of thousands of cars that need to be replaced. bloomberg surveyed a bunch of analysts and they're predicting a 9.8% increase for december. put it all together and the domestic auto market is clearly on fire. in fact, it's giving rise to maybe, just maybe, one of my best ideas for 2013. we still got a tremendous amount of pent-up demand in this country. the average car on the road is ancient, about 11 years old. it's now easy to get a loan for a new car at a super low interest rate. this is a story where the easy answer is the best answer. don't try to outsmart yourself. continual theme for 2013. we're on track to sell a huge number of cars in this country, buy ford. why ford? first of all, it's the best auto company in america. it likely sold 2.2 million cars in the u.s. last year. it is the first domestic auto company to get back to prerecession levels. the ford focus was the best-selling car on earth last year, and when you include the fiesta and the f-series pickup
CNBC
Jan 3, 2013 9:00am EST
tragedy, sandy hook did i think crimp holiday sales. let's not forget macy's another one people thought it would miss and it didn't miss. there was an expectation that things would be bad, you will have some of these stocks popping. yesterday, by the way, costco people thought would be good. cost coe not popping. the quarter is the best way to grade a ceo and company, retailers put a gun to their heads with these monthly numbers. i don't blame walmart one bit for trying to get out of that game t is not an easy game to play. gap, good acquisition, intermix, raising the level of what they want do gap's doing so many right things. i just -- >> turnaround only took a decade. >> rein wasn't built in a day partner. unit thing, going with your -- >> not forget the coast of jeggings past, right? supposed to -- your kids are older than mine, mine is 9, the difference in the performance companiless i would perceive to be similar, all due respect, aeropostale and abercrombie & fitch, from my untrained heathen eye look similar in terms of the product mix, you luke at results, they are very, very di
CNBC
Jan 2, 2013 4:00pm EST
hurricane sandy victims. more on that when we return. deal. more on that when we return. >>> as we all know, last night's fiscal cliff deal was essentially a tax deal. part two is to come now as we set the stage for a new fight on the debt ceiling. we've already really hit the maximum amount the government can borrow giving congress about two months now to raise that ceiling or risk default. last year the fight was brutal. as we all remember, and it led to a u.s. credit downgrade. >> yes, and the president has already said, quote, i will not have another debate with this congress over whether or not they should pay the bills they have already racked up. republicans say they won't consider raising the ceiling again without spending cuts, and on that note joining us now is representative david schweiker, republican from arizona. he voted against last night's deal. representative, welcome. >> hi, kelly. hi, bill. >> as we turn our attention towards the debt ceiling in two month's time, how far are you willing to go to get spending cuts? will you risk a debt default? >> well, first off what, we
CNBC
Dec 28, 2012 7:00pm EST
communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related spending items that are in the bill. typical sausage making for washington. >>> let's get to our panel. here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they're ready to haggle over some differences. what i expect to come to the floor is what president obama's talking about a 250 threshold for rates, maybe an amt attac
CNBC
Jan 3, 2013 6:00pm EST
aggressively and i bet the post-sandy rebuild will be terrific for business. i see another fantastic year for home depot. >> diness with remarkably resilient numbers. i think the stock can go up 10% from here easily. it's already started to recover, meaningly from the so-called disappointing quarter. that fourth quarter rally in the financials gave new life to jpmorgan, travelers the insurance company up 21%. i don't know if these can maintain that base. i'm not as bullish. jpmorgan seems to fail at these prices. fail the stock, not the company. the company is doing fine. my hope, i fear the company won't be able to repeat the performance. american express seems tapped out, prefer mastercard, visa and travellers is a fabulously run company. it's not one you expected expect to go up 21% over 21%. how about general electric? it advanced 17% despite down beat chatter, analysts being too down beat if you ask me. and an "and gas kicker could be rebounding because of china. pfizer was up 15% last year and i think that not only can they repeat that performance but best it as the giant compa
CNBC
Jan 3, 2013 4:00am EST
claims cost the higher of that, as you might expect, caused by hurricane sandy. it's insured industry loss down from 2011 down to 119 billion. yesterday's resolution of the fiscal cliffhanger may provide -- but tend of this battle has fired the gun on a secondary gun on the spending cuts and the difficult growth ahead. >> just when you thought we were off the fiscal cliff, all of washington turns its attention one day after the fiscal cliff deal to the next fiscal cliff and that's going to be a fight over the debt ceiling coming in march. the treasury department has said it has some running room here to deal with the u.s. debt ceiling, but it will run out eventually, likely end of february or early march for that. and the deal that was just done here in washington did nothing about the so-called sequester, which is that dramatic series of spending cuts other than punt it for two months. that means early march will be another battle in spending in washington. if that's not enough, coming at the end of march will be a fight over what they call the continuing resolution. that keeps the a
CNBC
Dec 27, 2012 12:00pm EST
had holiday sales coming at the worst level since 2008. that's not good. it's not all on sandy. >> depends how you read that metric. when the story is finally told, not .7%, somewhere higher than that. m moo. >> maybe it will. it's not all sandy, people cutting back already, whether military families cutting back dramatically because of sequestration or people who work at defense contractors out of jobs. there's a lot of bad heading our way. to josh's point, people will still send their kids to school and still go shopping but everybody is going to cut back how they shop. they will be trading down, judge, i think. and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market t
CNBC
Jan 2, 2013 12:00pm EST
victims of superstorm sandy. we have the outrage and the fallout. >>> and what does the fiscal cliff deal really mean for the money that you make in your investments versus the money that you make in your paycheck? tyler and i will break it down for you coming up at the top of the hour. right now we send it back over to scott on "the fast money halftime report." back over to you. >> thank you, beck, see you at the top of the hour. hewlett-packard the dow's worst performer last year is up big today, it continues to evaluate the idea of selling businesses that no longer meet its objectives. joe is bullish, weiss sees more downside ahead. grasso is making some money in hp. what's the problem? >> the problem is it's a pure commodity stock that has to reformulate their business and i can almost guarantee that earnings revisions are going to be lowered and not higher, so we'll see it bounce because it's so beaten up and well shorted but i think there are better places to make money in tech. i wouldn't short it but i definitely wouldn't be a buyer here. >> what is the bullish case on hp. ma
CNBC
Dec 26, 2012 4:00pm EST
stock and consumers are concerned about everything from hurricane sandy and the senseless slaughters in sandy hook, connecticut, spending less and giving more to charities. >> jan, i don't want to minimize any of this, the damage that this storm has already inflicted in parts of the country and could still inflict, but we were in an environment where people were just not shopping to begin with. do you think retailers could use this as a good excuse going forward? >> yeah, bert's here with me the four horsemen and apocalypse. i have to agree with him and there's really not a lot of time left. today was going to be a very, very big day, bases where it's not being snow affected. i think you'll see a strong performance. i know i was tough, the biggest deal. the fiscal cliff killed us. retailers went deep on profession and they said, no. i thrill city nyse's will be bert. >> do you think it's getting better in 2013, bert? >> 2013 starts the retail ice age and maybe the 500 to 1,000-day retail recession. shopping centers, malls-based, starting to refinance some of them will create record vak
CNBC
Jan 2, 2013 5:00pm EST
for the last four, five years, october, we had hurricane sandy that really challenged the east coast. we had warm weather in november, december, which affected a lot of the heavy apparel sales. and this wall of worry that built during the fiscal cliff negotiation, really damned consumer enthusiasm. a lot of volume in our business today. >> do you actually pay for that excess inventory whether it be a retail return or extra machinery from a factory? do you take that on your books and then sell it so you're on the hook until it's sold? >> the majority of our business is on a consignment basis, where we do not take title to the goods but retail a share of the revenue, realized from the sale of these items and what drives our marketplace is, our buyer base. we're reaching over 2.2 million buyers in 200 countries that have demand for these returned items. one company's returned item is another small business's treasure. and we connect that supply and demand in the most effective way using our internet model. >> hi, it's brian kelly. it sounds like you are economically sensitive but almost
CNBC
Dec 27, 2012 4:00pm EST
a bill introduced by the ranking member of the ways and means committee in the house, sandy levin, that called for this legislation. the speaker was going to bring it up to kill it, but he couldn't kill it and then we moved to plan "b," the debacle of all debacles. it's the mother of all debacles. that was brought up in an effort to send us something. he couldn't even pass it among the republicans it was so absurd, he meaning the speaker, so it's very clear now, mr. president, that the speakers's number one goal is to get elected speaker on january 3rd. the house is not even here. he's told me it will give him two days to get back here, not two days, 48 hours. they don't even have enough of the leadership here to meet to talk about it. they have done it with conference calls. people are spread all over the country because the speaker is basically waiting for january aboutrd. now, the president campaigned on raising taxes on people making more than $250,000 a year. the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes.
CNBC
Jan 1, 2013 8:00am EST
sandy. we're a leading global insurance company, based right here in america. we've repaid every dollar america lent us. everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. [ticking] >> the 20-year-old steve jobs returned to northern california after trekking through india for several months in 1974. with his friend steve wozniak, he started building and peddling a primitive computer for hobbyists. in 1976, with a $1,300 investment, they founded apple computer in his parents' garage. >> explain to me how somebody who was a hippie, a college dropout, somebody who drops l.s.d. and marijuana goes off to india and comes back deciding he wants to be a businessman. >> jobs has within him sort of this conflict, but he doesn't quite see it as a conflict, between being hippie-ish and antimaterialistic but wanting to sell things like wozniak's board, wanting to create a business. and i think that's exactly what silicon valley was all about in those days-- let's
CNBC
Dec 31, 2012 4:00am EST
and why we have to do everything we can to make sure that something like what happened at sandy hook elementary does not happen again. ultimately, the way this is going to happen is because the american people say, that's right. we are willing to make different choices for the country and we support those in congress who are willing to take those actions. and will there be resistance? absolutely, there will be resistance. and the question then becomes whether we are actually shook up enough by what happened here, that it does not just become another routine episodes where it gets a lot of attention for a couple of weeks and then it drifts away. it certainly won't feel like that to me. this is something that -- you know, that was the worst day of my presidency and it's not something that i want to see repeated. >> let me ask you about a couple of foreign policy notes. after the attack in benghazi, is there a need for more accountability this doesn't happen again and do you know who was behind the attack at this point? >> two points. number one, i think tom pickrick and mike mullen who
CNBC
Dec 27, 2012 2:00pm EST
sales. 400,000 cars that were damaged over a period of time in the storms. 250,000 superstorm sandy here. 40,000 pounds of copper go into a car. housing has turned up a little bit. you have 400 pounds of copper in every new home at least, not even the commercial buildings. >> george -- >> that could being. >> -- would you say that gold is no longer a good safe haven? to me it's been acting like a risk asset and not a safe haven anymore. >> people don't understand what is meant by safe haven for gold. the gold prices is an economic and political barometer not of just the economy but political well-being of the world. there's another saber-rattling. korea firing rockets. you have problems in the middle east. you have major problems that we haven't seen lately because of fiscal cliff and the headlines from italy and spain and of course portugal and greece is not finished yet. >> right. >> so there's plenty of problems. we're going to return back to basics after the fiscal cliff. people will say, you know what, i do need some place to put my money. >> probably not in the backyard or und
CNBC
Jan 2, 2013 2:00pm EST
this hurricane sandy relief bill. so there are a lot of fights still to come here maybe. >> strong words, eamon, but right now let us bring in steve liesman. does this deal increase or decrease yield deficit? >> yes. >> what? >> yes. >> that's the perfect economy answer. >> perfect political answer. >> no, no. and it bears on everything john said. it bears on everything eamon said. because the answer to the question you just asked is directly related to the fight we're going to have. it depends on the outlook, blue or red glasses, and what measure you use. let me show you the estimate in the last day. effect of the fiscal cliff on deficit. so what's the problem, steve? it raises the deficit. not so fast. all of that is relative to the march 2012 baseline of what would have happened had the bush tax cuts all gone away. nobody thought that would happen but that's the law. there is another way it look at it, which is what happened to the deficit as a percent gdp and that's how the market looks at it. we did these calculations. these are back of the envelope stuff. 2012, 7%, 7.2%. had
CNBC
Dec 27, 2012 6:00am EST
increasing. we saw consumer confidence being up. all of a sudden then, we had the impacts of sandy, a tragedy up in newtown, connecticut, and just a lot of other factors that just put a damper on the season. >> so, it is fair to say that it started better than it ended now. >> it started better than it ended. there was a lot of excitement around black friday. i mean it was almost like the super bowl. they have all this advertising, drag people out, it's the biggest event of the year come shopping, and then week after that we had the pro bowl. there was no excitement. there was no reason to come out shopping. so big bang, but it kind of waned as we went into the season. >> how much of the season is in the books now? i mean, what's still left to happen? >> there's a couple of big days still coming. i think this weekend is a big weekend as people redeem gift cards, go into the stores, exchange items for what they're looking for. hopefully get that add-on sale and people start to take advantage of the clearance sale, i would say, though, 95% of it is in the books. we've probably got some
CNBC
Dec 28, 2012 9:00am EST
got a bump from sandy. so if we could just fix that up, i think we'll be okay. >> what do you think is the market reaction if we come, you know, in on monday, and there's some sort of a mini deal? what does that do to us? >> listen, i think we'll be okay here. the first and second quarter of next year are going to be okay, cliff or not. they're going to get something together. it may be sort of a sloppy deal, just, you know, a small deal, that lead us into more negotiations -- >> but is the event a mini deal or is the mini deal a grand bargain? >> they'll come up with a mini deal. it's taken them this long to get here. how can we anticipate they'll get significant done. they'll get some sort of stopgap measure done and we'll see a little bit of stability. stop seeing all the negativity that's surrounding us. we're dead red here. >> gordon, if you recall that 2008 period, the market was going 400, 500, 600, a 60-point drop in the heat of the crisis. why is the equity market being relatively stable to that comparison? it seems that stakes here are pretty big, but the equity market is rel
CNBC
Dec 26, 2012 6:00am EST
sales to grow 3% to 4%. among the reasons cited for the weaker numbers, superstorm sandy and consumer nervousness about tax hikes due to the fiscal cliff. we've had lots of conversation about whether not fiscal cliff would impact consumer sentiment. and apparently now it's actually hitting people in the wallet. let's talk about what's on the economic agenda today. one very important report to watch, standard and poor's releasing the case schiller index on october home sales at 9:00 eastern. it's a busy week for housing data. tomorrow we're going to be getting the commerce department which releases new home sales for november. then on friday, the national association of realtors, not realtors -- >> yeah. >> releases its spending. its pending home sales index for november. >> in other housing news, the obama administration is considering expanding its mortgage refinancing program to include borrowers whose mortgages are not backed by the government and who owe more than their homes are worth. "the journal" reports one proposal being considered would also transfer potentially ri
CNBC
Jan 2, 2013 4:00am EST
on aid for hurricane sandy victims. the senate approved a $60 billion measure last week to help with recovery. the house appropriations committee had drafted a smaller $27 billion aid package but no vote is scheduled. new york republicans and democrats are calling the decision indefensible. >>> the u.s. coast guard says there are no signs a shell oil rig that ran aground off the coast of alaska is leaking fuel. the rig encountered trouble on monday during a severe storm. it's carrying 150,000 gallons of diesel and 12,000 gallons of lube oil and hydraulic fluid. once weather permits the plan is to get marine experts aboard to inspect the rig and come up with a salvage plan. the stock in the u.k. up 1/3 of 8%. >>> the u.s. journal indicating a key indicator of sales are expected to top $15 million according to firm polk. last year's sales are on track to hit $14.4 million. pickup trucks were back in vogue in 2013 as g.m., ford, and toyota all launched new vehicles or refresh existing models. >>> as you see, the dollar down across the board apart from against the yen. euro/dollar up to
CNBC
Dec 26, 2012 12:00pm EST
you have to take into account there's sandy, the tragedy up in newtown. a lot of different things. in front of us is the fiscal cliff. everybody has been talking about it. we've been talking about it. here we are past christmas getting very close to the 31st and still nothing resolved. for those reasons i think people are holding off. they're going to make some decisions later on. maybe those decisions don't happen until january. >> joe, you can blame what you want. you can say it's hurricane sandy, the fiscal cliff, discretionary the second best performing sector in the s&p here to date. is this a sign to start taking money off the table if you have it in the retailers? >> i think you categorize it by saying it's sprung a little bit of a leak. year to date, they've been strong. what do the allocations do? clearly you've looked at the u.s. economy and you've said it's been the services over the goods. money managers are taking a look at the potential recovery in manufacturing. they're looking at softening and consumer discretionary. it is on the back of sandy. it's moving into the
CNBC
Jan 3, 2013 6:00am EST
sandy relief. the house will vote on friday for a $9 billion down payment for storm-related support to the national flood insurance program. there will be then a second vote on january 15th on the $51 billion remainder of the sandy disaster aid package that was approved last week in the senate. boehner's announcement coming after fellow republicans loudly criticized the cancellation of an earlier vote. >> this is 66 days and the wait continues. there is only one group to blame for the continued suffering of these innocent victims. the house majority and their speaker, john boehner. new york deserves better than the selfishness we saw on display last night. new jersey deserves better than the duplicity we saw on display last night. america deserves better than just another example of a government that has forgotten who they are there to serve and why. 66 days and counting. shame on you. shame on congress. >> angry new york/new jersey lawmakers say the house delay marks a stark contrast to congressional reaction to hurricane katrina in 2005. a republican-controlled congress swiftly ap
CNBC
Jan 2, 2013 6:00am EST
was adjourned, and the current term of congress will end without having a vote on superstorm sandy aid. that was something that people were looking for. >> this is absolutely indefensible. the fact is every bit of documentation that was required by the leadership of the house was provided by governor cuomo, governor christie, merritt blob, everybody played -- mayor bloomberg, everybody played by the rules except tonight. indefensible. we have a moral obligation. the people are out of their homes, the people who are cold, the people without food, the people who have lost their jobs, they don't have the time to wait. we cannot just walk away from our responsibilities. >> and the senate had passed a $60.4 billion sandy disaster aid bill last week. the current session comes to an end today after the new congress gets sworn in. legislation does not, though, carry over from session to session. so consideration of an aid bill would have to start all over again if nothing is scheduled before then. joe? >> back and forth on this was whether it's direct aid or not, in the house they said tha
CNBC
Jan 2, 2013 1:00pm EST
. >>> largely lost in all of the drama over the cliff, aid to victims to hurricane sandy on east koefd. it has republicans now turning on republicans. >> hi, tyler. kind after surprising and unexpected fight here. let me show how as they were getting zun with the fiscal cliff debate. here is how it went down. >> the question is on the motion to adjourn. those in favor, say aye. >> aye. >> those opposed, no. >> no. >> and the opinion of the chair? ayes have it accordingly the house stands adjourned until 10:00 a.m. tomorrow for morning hour debate. >> so you could hear those republicans and democratic members from new york and new jersey upset they gavelled down the session last night before they voted on this bill and today, some of those members have been venting their anger at a system that they say is unfair to their constituents. take a listen. >> these people have no problem finding new york when it comes to raising money. it is only when it comes to allocating money they can't find the ability to do it. we cannot believe that this cruel knife in the back was delivered to our regi
CNBC
Dec 31, 2012 4:00pm EST
going to be about sandy relief money from the superstorm. the cliff will come up, but the source said we are not going over any potential deal because there isn't one and the senate hasn't acted yet. >> but even if they're intending to talk more about sandy relief, don't you think the fiscal cliff issue is going to kind of come up? >> of course it's going to come up, but my only point is the meeting -- that's not what the meeting is about. it's a further indication that -- from the house of representatives that they don't consider this thing ripe enough that they're going to bolt and move on it tonight. >> that'll please new jersey governor chris christie and governor cuomo of new york. but you don't think that's a head fake to try and lower expectations? or not to raise them needlessly on the fiscal cliff? >> look. >> we sound skeptical, don't we? >> yes. but we're not that far from 5:00. and we're not that far from midnight. knowing the way the senate acts, the fact the senate leaders have not announced a deal. i don't think it's a trech to say that the house at this point is s
CNBC
Dec 26, 2012 2:00pm EST
survey includes the week of hurricane sandy which was the last week of october. some of these companies don't. secondly, the survey excludes nonholiday related categories, excludes food, excludes gas, excludes building materials. well, that's a very important piece of information. that may make up for the difference. mastercard's spokesman also told me, here's a quote, put the quote up, it is possible that total retail sales, that includes all the nondiscretionary sectors, could be up north of 3%. the broader view is up 4.5% in november. now, this makes some sense. their estimates including all of the sectors, not just some of them, is closer to the national retail federation number and i think that accounts for why the differences between the surveys are so large. >> the light bulb goes on. thank you very much. go and rest that voice of yours. >>> we will check more on the retail situation later on in the show. in the meantime, rick santelli, how are things in the bond pits? >> you know, bob pisani sounds like a futures trader today. we hope he feels better. but the futures t
CNBC
Dec 27, 2012 9:00am EST
real functioning economy of this country. we are going to be stuck again. we went through sandy, that was a natural disaster, to think that all this really is man made, still boggles the mind. >> sickening. especially with claims back to 350, decent number this morning. >> there is a little bit of interpretation to that. to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top of all that, true. >> not such a crummy year for japan. japanese stocks rallying you can the yen continuing its slide against the dollar in all the major currencies, in fact. asian markets mixed overnight trading. the nikkei climbing to a closing level not seen since just before the ma
CNBC
Jan 1, 2013 10:00am EST
sandy. we're a leading global insurance company, based right here in america. we've repaid every dollar america lent us. everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> the basic concept of wall street... >> andrew madoff says he thought his father was a financial genius. there were suspicions about bernie madoff's remarkably consistent returns, but the s.e.c. repeatedly cleared him of any wrongdoing. what troubled andrew was his father's refusal to di
CNBC
Jan 3, 2013 12:00pm EST
coast recover from hurricane sandy. we're a leading global insurance company, based right here in america. we've repaid every dollar america lent us. everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. . losi butterfield. elosi. calvert. boehner. >>> want to take you down to d.c., give you a shot of the house chamber, where the house begun voting on its next speaker, john boehner expected to win re-election. wasn't always easy getting his troops in line during the fiscal cliff negotiations. but, again, speaker boehner suspected to win re-election for the 113th congress. any surprises happen we'll let you know about them. that's the process going on right down in the house chamber. it's time to get a realtime tried with keith mccullough. big move in stocks is what you see. good to see you. happy new year. what's going on? >> i think you have to really think through what growth has started to do here, scott. that's stabilize it. we have gone from growth
CNBC
Dec 26, 2012 5:00pm EST
european debt crisis, we've had, you know, we've had the elections, we've had super storm sandy, we've had so many events, fiscal clifr, of course, being rerated by s&p. >> but the number one thing we're not talking about is the fed. you have this unbelievable accommodating monetary policy and a signal from the fed they're going to continue that to the tune of a trillion dollars a year. so, that's why the things has been conventional. this has been anything but a conventional year. if you didn't have that level of stimulus, i think the market would have gone a little sideways this year. >> right. let's talk about the big trades in today's session, from trash to treasure. can some of 2012's biggest losers be the best bets for 2013. this is, in fact, what we saw in today's session. these are some of the worst performers of the year, but in today's market, today's session, they actually led the markets. research in motion was a head scratcher of a move. >> the research in motion is very interesting, because i thought the move was over last week when it had that, seemed to be a blow
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